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    506 W University Dr Mesa, AZ 85201

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    For Sale
    $450,000

    Freestanding building with RM-4 zoning, suitable for various commercial uses.

    Property size:
    1,532 SF
    Lot size:
    0.23 Acres

    Property Features for 506 W University Dr

    General Information

    Size
    1,532 SF
    Lot size
    0.23 Acres

    Source: Menlo Group Commercial Real Estate Agent Grafton Milne

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Freestanding Building Near Freeways

    This freestanding building, located off W University Dr and Country Club Dr, offers 1,532 square feet of space. The RM-4 zoning allows for commercial uses such as business and professional offices, medical and dental offices, other professional services, restaurants, and retail, potentially subject to a Special Use Permit (SUP). The building's layout includes an open office or classroom space, multiple restrooms, a small kitchen area, and one private office. Building improvements completed within the last 5-6 years include plumbing replacement, a new A/C unit, and a new roof. Exterior paint was updated in December 2024. The property is near the 101, 202, and 60 freeways and is in close proximity to other business and retail amenities. An existing childcare business is also available for sale, with the potential to lease the property.
    Location Intelligence

    Current Use by Public Records

    The Yellow Brick House ... Day Care Center

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.842289
    Latitude
    33.4226747

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    FAQs

    What type of property is this?
    Office space - Freestanding building with RM-4 zoning, suitable for various commercial uses.
    Where is this office space located?
    The property is located at 506 W University Dr Mesa, AZ.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: - RM-4 Zoning allows for a wide range of commercial uses; - Recent building improvements: new plumbing, A/C, roof, and exterior paint (Dec 2024); - Freestanding building
    (480) 282-3089
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    506 W University Dr Mesa, AZ 85201
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    Mesa, AZ 85201
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    506 W University Dr Mesa, AZ 85201
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